Former BitMEX CEO Arthur Hayes predicts that Bitcoin will rise to 1 million dollars before 2028. He believes that the reason is not ETF or institutional investment, but rather that the United States will implement capital controls, continuing its tariff policy. The Trump administration may adopt taxation on foreign capital, such as on stocks, bonds, and real estate, to address the trade deficit, which will drive capital away from traditional assets and into borderless assets like Bitcoin and gold.
Arthur estimates that if the U.S. imposes a 2% tax on foreign capital, it could generate 600 billion dollars in revenue, enough to exempt the income tax for the bottom 90% of Americans, compensating for the current stagnation in tariff negotiations under Trump’s policy. Additionally, the tax rate obtained from negotiations is insufficient to meet Trump's administration's commitment of 'income tax exemption for households earning below 150,000 dollars.'
However, this policy will lead to the withdrawal of foreign capital and the depreciation of dollar assets, thereby forcing the Federal Reserve to restart quantitative easing to maintain market stability. Unlike gold, which needs to be stored, Bitcoin, as a digital asset, is more suitable for cross-border capital flow, possessing advantages in a future world where geopolitical tensions are high and capital may split. He is optimistic that Bitcoin can surge to 1 million dollars because of this.
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"MICA Daily｜Arthur Hayes predicts: Bitcoin will reach 1 million dollars before 2028" This article was first published on (Blockchain Client).
